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Two former executives of ArthroCare Corp have been charged with a $400 million scheme to defraud investors by inflating the company’s earnings, the U.S. Justice Department said on Wednesday. Former chief executive officer Michael Baker and former chief financial officer Michael Gluk were charged in the federal indictment and surrendered to law enforcement officers, the Justice Department said in a statement. A grand jury returned the indictment on Tuesday and it was unsealed on Wednesday in U.S. District Court for the Western District of Texas.
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